Daily Nifty chart
It appears like A,B of the correction from the peak 8963 is complete. B was a flat correction. This signifies that the impending C is going to be a strong down move. Breaking down the C shows that it has completed 1&2 and 3 is in progress, or it is almost done at the low of Friday with the move between 138.2% 161.8% 8376. Now we can expect the 4th wave to move up. It should not break the low of the 1st wave at 8550.25 which will invalidate this wave count.
Further on 4th wave can take anywhere between 3 -4 days to complete. (is that a coincident that 3 days from now is wednesday when the US election results are out?) Then a further dip for the completion of 5th wave may be on cards.
--<<8321-8342 << 8502 >> 8545-8555 >> 8604++
C wave in the daily chart:
It appears like A,B of the correction from the peak 8963 is complete. B was a flat correction. This signifies that the impending C is going to be a strong down move. Breaking down the C shows that it has completed 1&2 and 3 is in progress, or it is almost done at the low of Friday with the move between 138.2% 161.8% 8376. Now we can expect the 4th wave to move up. It should not break the low of the 1st wave at 8550.25 which will invalidate this wave count.
Further on 4th wave can take anywhere between 3 -4 days to complete. (is that a coincident that 3 days from now is wednesday when the US election results are out?) Then a further dip for the completion of 5th wave may be on cards.
--<<8321-8342 << 8502 >> 8545-8555 >> 8604++
C wave in the daily chart:
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